The anglers and crew were rescued by neighboring anglers. No injuries were reported.

“It was miraculous no one was seriously injured,” said tournament director Wayne Bisbee, as he and the rescued anglers watched the burning vessel slowly dip below the surface aboard the committee boat. “It was a tragic and a very humbling experience.”

The annual tournament, which is the world's richest billfish competition, began a day later than scheduled because of a tropical storm. Anglers aboard 94 boats--make that 93--are competing for $2 million in prize money. The tournament will conclude Saturday.

-- Pete Thomas

Photos: Bottom Line on fire and sinking soon after the start of the Bisbee's Black and Blue Jackpot Tournament off Cabo San Lucas. Credit: Bisbee's